Pronunciation: [skˈɪmɪŋz] (IPA) 
The word "skimmings" is spelled with two consonants and four vowels. The first syllable, "skim," is pronounced /skɪm/, with the "i" sound as in "sit" and the "m" sound at the end. The second syllable is pronounced /ɪŋz/ and has two vowels, "i" and "ng," which create a nasal sound. "Skimmings" are the impurities or unwanted materials that rise to the surface of a liquid when it is being skimmed, such as cream or stock.
Skimmings, in a financial context, refers to the act of skimming or the funds collected through skimming. Skimming generally refers to the illegal practice of diverting a portion of cash flow without proper documentation or accounting. It involves taking money from a business's earnings before it is recorded in company accounts, typically by employees or dishonest individuals who have access to the cash register or payment system.
Skimmings can occur in various industries, such as retail, hospitality, or any other business that processes cash transactions. Those involved in skimming may manipulate cash registers, falsify receipts, or pocket cash payments for goods or services provided.
The term "skimmings" can also refer to the actual amount of money collected through skimming practices. These funds are often not reported to tax authorities, evading taxation and reducing the profits of the business concerned. Skimmings allow individuals to embezzle money illicitly, leading to financial losses for the affected company and potential legal consequences for those engaging in such activities.
It is important for businesses to implement internal controls, such as segregating cash handling duties, conducting regular audits, and maintaining strict cash management procedures to prevent or detect skimming activities. Detecting skimmings early on can help mitigate the financial damage caused and allow for appropriate disciplinary or legal actions to be taken.
The word skimmings is derived from the verb skim, which dates back to the late 16th century. Skim originally meant to remove floating matter from the surface of a liquid by scooping it off. The word skimmings refers to the substances or particles that are skimmed or removed from the surface of a liquid, such as skim milk or the scum or impurities skimmed off during the process of cooking. The word skim itself comes from the Middle Dutch word schimpen meaning to sail swiftly.
